Tennessee Warranty Deed With Vendor's Lien

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Tennessee Warranty Deed With Vendor's Lien Powered By Docstoc
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                             This Warranty Deed is used when a seller of real property located in Tennessee conveys
                             ownership of the property to a buyer and warrants title, but reserves a lien in favor of the
                             seller until the purchase price is paid off. This warranty deed effectively transfers the
                             property to the buyer, but gives the seller the right to take the property back if he or she is
                             not paid in full. In this warranty deed the seller promises to defend the buyer from all
                             adverse claims relating to the property, but states that the vendor lien is retained against
                             the property until it is paid off. This document should be used in a real estate transaction
                             where the seller warrants the property, but retains a vendor's lien to ensure full payment.
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                        WARRANTY DEED WITH VENDOR’S LIEN



This Warranty Deed With Vendor’s Lien ("Deed") is made and effective this ______ [Month]
____[ Date], 20___, by and between ____________________ [Instruction: Insert the name of
Grantor], having principle place of residence at __________________________________
[Instruction: Insert the address of Grantor] (hereinafter referred to as "Grantor") and between
____________________ [Instruction: Insert the name of Grantee], having principle place of
residence at __________________________________ [Instruction: Insert the address of
Grantee] (hereinafter referred to as "Grantee").


AND, for and in consideration of the sum of ________ ($___) [Ten dollars only ($10)]
[Instruction: Insert the consideration amount, for E.g. Ten Dollars ($10)] , and other
valuable consideration to the undersigned in hand paid by the Grantee herein named, the receipt
of which is hereby acknowledged, the payment of which note is secured by the vendor’s lien
herein retained, has granted, sold and conveyed, and by these presents does grant, sell and
convey Grantee, all of Grantor’s right, title and interest in and to the real property described as
follows:


[Instructions: Insert legal description of the property E.g. - Residential or Commercial]
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________




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[Instructions: Insert street address of property]
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________


To have and to hold, together with all and singular, the rights and appurtenances thereto and
anywhere belonging forever.


Grantor does hereby bind [himself or herself] and [his or her] heirs, executors, administrators and
assigns to warrant and forever defend all and singular, the premises to the Grantee and [his or
her] heirs and assigns, against every person lawfully claiming or to claim the same or any part
thereof.


But it is expressly agreed: (1) that the Vendor’s Lien, as well as Superior Title in and to the
above described Property, is retained against the above described property, premises and
improvements until the above described note and all interest thereon are fully paid according to
the face, tenor, effect and reading thereof, when this Deed shall become absolute; and (2)
Grantee herein, having advanced and paid in cash to the Grantor herein that portion of the
purchase price of the herein described property as is evidenced by the hereinabove described
note, the Vendor’s Lien, together with the Superior Title to said property, is retained.
It is further acknowledged that for the current year taxes have been prorated and their payment is
assumed by Grantee. This deed is further made subject to any and all valid and subsisting
restrictions, easements, rights-of-way, reservations, maintenance charges, together with any Lien
securing the maintenance charges, zoning laws, ordinances of municipal or other governmental
agencies or authorities, and conditions and covenants, if any, applicable to and enforceable
against the property described above as shown by the records of the county clerk
_________________________ [Instructions: Insert name of the county]
This Deed, however, is made and accepted subject to any and all restrictions, easements,
covenants and conditions, if any, relating to the hereinabove described property as the same are




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filed for record in the real property records of _________________________ [Instructions:
Insert name of the county], Tennessee.
Words of any gender used in this deed shall be held and construed to include any other gender,
and words in the singular number shall be held to include the plural, and vice versa, unless the
context requires otherwise. If this Deed is executed by or to a corporation or trustee the words
"heirs, executors, and administrators" or "heirs and assigns" shall, with respect to the corporation
or trustee, be construed to mean "successors and assigns”.




Signed on ______ [Month] ____ [ Date], 20___,


___________________________________
[Instruction: Insert the name of Grantor]




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                                     ACKNOWLEDGMENT




This instrument was acknowledged before me on ______ [Month] ____ [Date], 20___, by
_________________________________________________________________________.


Notary Public, State of Tennessee.




______________________________________
[Instruction: Insert Notary's typed or printed name]




Notary's commission expires: ______ [Month] ____ [Date], 20___,.
[Instruction: Insert the date of expiry of Notary's Commission]




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Description: This Warranty Deed is used when a seller of real property located in Tennessee conveys ownership of the property to a buyer and warrants title, but reserves a lien in favor of the seller until the purchase price is paid off. This warranty deed effectively transfers the property to the buyer, but gives the seller the right to take the property back if he or she is not paid in full. In this warranty deed the seller promises to defend the buyer from all adverse claims relating to the property, but states that the vendor lien is retained against the property until it is paid off. This document should be used in a real estate transaction where the seller warrants the property, but retains a vendor's lien to ensure full payment.
This document is also part of a package Essential Tennessee Legal Documents 144 Documents Included